😔 Who here has blown their trading account before?
A lot of traders have, me included.
Here are tips that helped me recover from blowing my account in the past.
Before getting started. Don't feel bad and give up if you blew your account. It's part of the process, the traders you look up to have done it multiple times.
As always take things like this as a LESSON, figure out what you did wrong that led to this, and come back stronger.
TRADING JOURNAL📚
Journaling your trades is VERY important. It opens your eyes to your mistakes. Make notes of what you did wrong, what you did right, and what you can improve on.
Next time you get into a trade, look for the same things before entering.
NO LOTTOS🎱
Stop taking lottos, it's gambling and not worth the risk. ALL TRADES should come from your system and be highly confident.
NO trying to catch the top or bottom. Play BRB (Breakout retest breakout) setups only!
NO HOPIUM 🙏
Respect your stop losses. There is ALWAYS another trade. Don't marry your loser and try to see green. Cut your losers quickly and move on to the next.
TRADING TIME⌛
Focus on the first 2 hours of market opening and power hour. HAVE A DAILY GOAL, Once the green or daily goal is met, walk away or observe from the sidelines.
You are NOT required to sit and trade all day.
START FRESH👼
When restarting your trading journey on a new account or the same account. Go back in with a FRESH mind. Very important to not get stuck in the past. If you have the constant reminder of "I need to make back the money", step away, take a break, & clear your head.